Ryanair optimistic about the future despite huge loss

Ryanair has reported a loss of over €100million for its third quarter earnings. The airline blamed rising fuel costs for the loss but says Q4 will be much improved due to the fact the fuel prices have now eased. Here is a summary :

• Q3 2008 loss of €102m compared with a profit of €35m last year.
• Ancillary revenues account for 22% of total, up from 19% year on year.
• 3% reduction in non fuel costs.
• Doubtful that Ryanair will continue to pursue Aer Lingus takeover.
• Eager to buy debt on aircraft at current low interest rates
• Positive outlook – strong cash, lower fuel, weak competitors

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